ERSM30000 - Restricted Securities

Contents

ERSM30010Introduction to taxation of restricted securities

Shares acquired before 26 October 1987

ERSM30020Shares acquired before 26 October 1987: taxation treatment

Shares acquired between 26 October 1987 & 15 April 2003 inclusive

ERSM30030Shares acquired between 26 October 1987 & 15 April 2003 inclusive: taxation treatment
ERSM30040General meaning of chargeable event
ERSM30050Year and amount of charge
ERSM30060Exemption from charge
ERSM30070Exemption from charge: the 7 year rule
ERSM30080Exemption from charge: the change in the rights
ERSM30090Exemption from charge: conditions to be met

Conditional shares acquired before 16th April 2003

ERSM30200Conditional shares acquired before 17 March 1998: transitional issues
ERSM30210Conditional shares acquired between 17 March 1998 & 15 April 2003: restricted share schemes subject to risk of forfeiture
ERSM30220Conditional shares acquired between 17 March 1998 & 15 April 2003: scope of legislation
ERSM30230Conditional shares acquired between 17 March 1998 & 15 April 2003: how are they taxed?
ERSM30240Conditional shares acquired between 17 March 1998 & 16 April 2003: specific issues dealt with in Tax Bulletin 46

Securities acquired on or after 16 April 2003 – Schedule 22

ERSM30250Conditional shares acquired on or after 16 April 2003 but with chargeable event before 1 September 2003
ERSM30300Securities acquired on or after 16 April 2003: introduction
ERSM30310Meaning of restricted securities and restricted interest in securities
ERSM30320Definition of ‘restriction’ – forfeitable (or conditional) securities
ERSM30330Definition of ‘restriction’ – holding of securities
ERSM30340Definition of ‘restriction’ – potential disadvantage
ERSM30350Exceptions
ERSM30360Black-out or close periods: USA & UK listed companies
ERSM30370No charge on acquisition: forfeiture condition 5 years or less
ERSM30380Securities acquired for purposes of avoidance – deemed election
ERSM30390The charge
ERSM30400Calculation of charge
ERSM30410Security disposed of for less than market value
ERSM30415Computation of OP
ERSM30420Calculation of charge: simple examples
ERSM30430Calculation of charge: complex examples
ERSM30440Excluded securities
ERSM30450Elections to exclude outstanding restrictions
ERSM30460Elections to exclude outstanding restrictions: further issues
ERSM30470Restricted shares acquired under approved plan or EMI scheme – deemed election under Section 431(1)
ERSM30480Securities acquired for purposes of avoidance – deemed election under Section 431(1)
ERSM30490Relief for NIC elections & agreements
ERSM30500Exchanges of restricted securities
ERSM30510French FCPE (Fonds Comun de Placement d’Enterprise)
ERSM30520Memorandum of understanding on managers’ equity investments
ERSM30530Memorandum of understanding on carried interest

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